Netflix stock climbed 3% to $1,000 on Monday after a strong first-quarter earnings report helped it shrug off a slump in the broader market.

Netflix posted better-than-expected profit and revenue after Thursday’s closing bell. The U.S. stock market was closed for Good Friday.

The consensus on Wall Street is that the report showed that Netflix will be able to weather any downturn sparked by tariffs. The streamer stuck by its 2025 revenue guidance, signaling it isn’t expecting consumers to cancel subscriptions even if Trump’s levies do drag down economic growth.

“Entertainment historically has been pretty resilient in tougher economic times,” Co-CEO Greg Peters said on a post-earnings video interview. “Netflix specifically also has been generally quite resilient.”

“Netflix has historically shown resilience during recessions as consumers saw it as a low-cost entertainment alternative compared to going out,” Phillip Securities analyst Helena Wang said in a research note Monday in which she upgraded the stock to Neutral. She added that a pivot to live sports programming should help the streamer to maintain pricing power, and that a growing advertising business is likely to help shield its bottom line.

J.P. Morgan analyst Doug Anmuth raised his price target on shares to $1,150 from $1,025 on Monday, and Wedbush’s Alicia Reese increased her target to to $1,200 from $1,150.